Bitcoin price hovers below $65,000; Iranian standoff and strategic sales put pressure on the market
2026-08-11 18:49:04
According to CoinMeta, the price of Bitcoin ($BTC) remains below $65,000, with tensions in Iran and strategic sales putting pressure on the market. On Tuesday, there were few changes in the crypto market as the brief optimism surrounding the Hormuz Strait agreement faded. President Trump's demand for Iran to provide 50 years of compensation in any negotiations dampened hopes for a recent agreement and pushed Brent crude oil prices up to $89.08, a rise of over 12% from last week's lows. Bitcoin is currently trading at $64,223.28, up 0.26% since midnight (UTC), but still down 1.68% over the past 24 hours. Ethereum ($ETH) is currently priced at $1,884.81 and has performed better than Bitcoin since midnight, with a decline of 2.4% today. The traditional markets are also sluggish, with U.S. stock index futures remaining stable. Traders are focusing on the CPI report on Wednesday as a key catalyst for the week. Strategy companies sold another 1,690 bitcoins on Monday, marking the fourth consecutive week of reductions, adding additional pressure to the market. The company has not purchased any bitcoins since June.
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Source:CoinDesk
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